Hardware: Does the CPU power supply matter when upgrading to a new CPU

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I recently bought an HP Probook 4530s with B840 Celeron CPU:

http://ark.intel.com/products/59801/Intel-Celeron-Processor-B840-2M-Cache-1_90-GHz

I also bought a Core i7-2630qm hoping to upgrade that CPU as well as the RAM... etc..

http://ark.intel.com/products/52219/Intel-Core-i7-2630QM-Processor-6M-Cache-up-to-2_90-GHz

Knowing that the socket is the same and that the same Laptop model runs core Core i7-2630qm, and that they're both sandy bridge second gen processors... Is it compatible or did I just make a huge mistake?

Another question: is the CPU power supply (35W and 45W) preset by HP for specific processors or does the motherboard supply the right ammount of power automatically?

Please Help!! Thanks

 

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OK so searched further in the archives, aparently I can: http://legacy.tonymacx86.com/viewtopic.php?f=259&t=62807